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Economy

Tokyo landlords cut rents to fill condos before inflation worsens

Monthly average falls for 3rd month in row as consumers look to cut spending

High-rise condominiums stand in Tokyo's Koto ward. Landlords are hurrying to secure tenants, even at lower rents. (Photo by Tomoya Ushiyama)

TOKYO -- While most prices seem to be going up these days, one sector is heading the other way, Tokyo condo rents.

The average monthly rent for Tokyo condominiums declined 0.3% in July, the third consecutive month for the average to dip below the previous month's rate, according to Tokyo Kantei, a real estate data company.

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